Tangiers Petroleum reported that the Ministry of Energy, Mines, Water and Environment in Morocco  granted the first extension period to its subsidiary DVM International and ONHYM for the Tarfaya Offshore permits. The company’s extension takes it to August 2014 and meets one of the key conditions for the Galp Energia farm-out agreement. The company has […]

South Africa’s state-run firm PetroSA has come under investigation regarding its purchase of Sabre Oil & Gas Holdings. The country’s anti-corruption unit, following a report from the Mail & Guardian questioning payments made for the acquisition, launched an investigation. The newspaper said the transaction involved millions of dollars of irregular payments. “We are investigating PetroSA, […]

The massive PSVM development offshore Angola operated by BP came in a bit over budget according to a report in the Daily Telegraph. The newspaper cited a company official as saying the project came in $4 billion over its original budget after being delayed by a year. The project was originally scheduled to come onstream […]